The Washington Post is finally going to provide weekly updates (on Sundays) on the regional housing market. They're also encouraging questions and comments.
Here are some excerpts from today's issue:
There are 40,409 new, single-family houses on the market in the Maryland and Virginia suburbs, according to Hanley Wood Market Intelligence, a construction-industry research company. That doesn't include condominiums, which are certainly in flush supply, or even townhouses. And nearly one-third of that unsold inventory sits in just two jurisdictions, Prince George's and Loudoun counties.
"Builders and developers have more inventory than they've had in recent memory, at least in a decade," said Charles Browning, publisher of New Homes Guide, an advertising magazine distributed free to home shoppers. (The magazine is published by a subsidiary of The Washington Post Co.)
. . .
Until this backlog of unsold new homes is cleared, it will remain a tough market for owners trying to sell their gently used homes.